Securities market

Shares on the stock market

* On December 19, 2011, a merger occurred between the two stock exchanges MICEX and RTS. At this stage, the merger has only taken place from a legal standpoint. Trading continued as usual on the MICEX and RTS.

Stock market

MICEX

RTS*

Start of trading date

Feb 9, 2006

Feb 9, 2006

Quotation list

“А” first-tier

“А” second-tier

ISIN

RU000A0ET7Y7

Ticker

MSRS

MSRS – Classical Market
MSRSG – Exchange Market

Bloomberg

MSRS RM

MSRS RU - Classical Market
MSRSG RU - Exchange Market

In 2011, 84% of the trading with JSC “MOESK” shares took place on the MICEX and 16% on the RTS.

«
IN 2011, 84% Of The TRADING WITH
JSC “MOESK” SHARES
TOOK PLACE ON
the MICEX AND 16% ON
The RTS
»

The Russian government calls for the hike in electricity tariffs in 2011 to be capped at 15%.

JSC “MOESK” announces dividend payments.

The signing of an agreement between JSC “IDGC Holding” and GPB (JSC) on the trust management of JSC “MOESK” shares.

The publication of the IFRS financial statement for 2010.

A decline on global capital markets: worsening of the sovereign debt crisis in Europe, the U.S. credit rating is lowered from ААА to АА+ for the first time, and the risk increases of a recession in the global economy.

The publication of the IFRS financial statement for the first six months of 2011.

Change in the Company’s share price compared with the MICEX and MICEX PWR indices

Indicator

Change in price by year

2009

2010

2011

Company’s share price

-8 %

34 %

4 %

MICEX Index

116 %

17 %

-18 %

MICEX PWR Index

165 %

39 %

-40 %

In January 2011, two key factors were identified that affect the share quotations
of JSC “MOESK” and other issuers in the energy sector: the expectation
that the transition to RAB regulating will improve financial performance and
increased government control over electricity prices.

Taking into consideration the Russian government’s statement (in February 2011)
about restricting electricity tariff hikes to 15%, the market responded with a decline.
For almost all of 2011, the shares of energy sector companies were under
pressure from the growing risks of investment in the Russian power industry.
The biggest disappointment for investors was the postponement in the transition
to RAB regulation of energy tariffs.

At the same time, following a correction JSC “MOESK” shares have shown growth since
mid-June due to several media reports about GPB (JSC) taking over operational control
of the company from JSC “IDGC Holding.” Most of the analysts who cover the Company’s
activities viewed this news as positive.

«
JSC “MOESK” IS ONE Of ONLY
A FEW COMPANIES IN
the POWER GRID SECTOR
THAT DEMONSTRATED
GROWTH IN MARKET
CAPITALIZATION
IN 2011
»

Stock exchange shares

2009

2010

2011

Min price, rubles

0.69

1.21

1.28

Max price, rubles

1.48

1.80

1.75

Closing price at end of year, rubles

1.07

1.67

1.60

Number of transactions, pcs

41,599

64,840

59,919

Turnover

mln rublesmln pcs

1,9221,675

4,7983,080

4,3422,803

JSC “MOESK” is one of only a few companies in the electricity sector that demonstrated growth in market capitalization in 2011.